The Internet of things (IoT) network has become widely established and was worth $235B in 2017. This is largely due to the success of connected devices such as the Amazon Echo or the Google Home as well as systems like Hive in the UK being widely adopted. As more and more devices can communicate with each other new opportunities are opening for organisations.
Insurance companies have already been taking advantage of the data provided by the IoT by offering variable rates of car insurance. Data based on the performance data of the driver is collected by the “black box” and sent directly to the insurance company who assess the risk level of the driver.
Find out how your organisation can get ahead with IoT projects.